Sugar

asked the Minister of Agriculture, Fisheries and Food what will be the cost to the Exchequer of the guarantee it is to give in respect of the new system of forward quotations of the equalised price for sugar referred to in his Written Answer of 13th May. column 76.

Taking into account the price of £260 per ton which the Government have guaranteed for Commonwealth
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raw sugar shipped in 1975, sales of refined sugar at the forward quotations initially introduced would mean a loss for the refiners concerned of around £90 per ton, and therefore an Exchequer payment of the same amount. However, it is impossible at this stage to forecast what quantities will be sold at these forward prices, which are subject to change at any time in the light of the prices at which other sugars are on offer.

FEOGA (GUARANTEE SECTION) EXPENTURE 1974*

Units of Account

Sterling Equivalent

Cereals

…

…

…

…

…

…

…

…

399,760,604.82

166,566,918.68

Rice

…

…

…

…

…

…

…

…

1,199,895.03

499,956.26

Milk and Milk Products

…

…

…

…

…

…

1,221,046,237.39

508,769,265.57

Oils and Fats

…

…

…

…

…

…

…

146,733,905.34

61,139,127.23

Sugar

…

…

…

…

…

…

…

…

108,823,052.55

45,342,938.56

Beef and Veal

…

…

…

…

…

…

…

320,768,406.52

133,653,502.72

Pigmeat

…

…

…

…

…

…

…

…

67,136,546.24

27,973,560.93

Eggs and Poultry

…

…

…

…

…

…

…

16,873,830.12

7,030,762.55

Fruit and Vegetables

…

…

…

…

…

…

66,906,013.32

27,877,505.55

Wines

…

…

…

…

…

…

…

…

41,965,337.76

17,485,557.40

Tobacco

…

…

…

…

…

…

…

…

187,608,902.54

78,170,376.06

Fisheries

…

…

…

…

…

…

…

…

1,169,246.92

487,186.22

Common organisation of markets in other sectors and products

35,511,698.18

14,796,540.91

Agricultural products processed into goods not included in Annex II to the EEC Treaty